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In This Issue
Noteworthy Links
Big Changes For 2015 Workplace Plans: Watch Out For These Six Possible Pitfalls
Former HHS Official Calls For Smarter Networks That Deliver Cost-Effective Care 
A Quarter Of Uninsured Say They Can't Afford To Buy Coverage
Business lobby makes push for expired tax breaks
Changes to gain-reporting rules on transfers to foreign corporations 
Economist predicts market reaction as Fed alters balance sheet
Ready for the future of business? 
Your BRC Team
When PLM Families Together was awarded a KaBOOM playground (approx. $80K value) BRC Team Members enjoyed stepping forward to help lead and participate in the build.   
BRC Build Day volunteers Brian Black, Ryan Magee and Lori Moshinski  
Allison Mills, BRC Manager, shares a favorite Thanksgiving quote: Let us remember that, as much has been given us, much will be expected from us, and that true homage comes from the heart as well as from the lips, and shows itself in deeds. - Theodore Roosevelt
BRC Tax Planning Guide
Click here to access our Tax Planning Guide:

BRC Web Estate Guide
Click here to access our 2014 WebEstateGuide: 
 
November 26, 2014 
Thankful for You

During this season of giving thanks, we pause to reflect on our blessings. The freedoms fought and won for us in the past, present and future that make our country truly great allow us, at Bernard Robinson & Company, to do what we do in support of your dreams everyday. The friendship and confidence you bestow upon us as we work with you in support of your business achievements is truly an honor for which we are grateful. For this great country and the opportunity to advise and serve you, our treasured clients, we would like to express our deep, sincere appreciation as we wish you and yours the happiest of Thanksgiving holidays. - Wade Pack, Managing Partner 

Tax Talk - End of Year Planning Tips
What Do I Need to Be Thinking About NOW to Minimize Taxes?
By Jill Clark, CPA, Senior Manager: 
 
As we embark on the closing of another year, it is important to consider tax-saving measures that may no longer be available at the beginning of the next year. While we do not advocate making business decisions solely for tax purposes, it is important to be mindful of these options while still available, realizing the window closes on most with the close of each year. 

The first thing to keep in mind in year end tax planning is the importance of taking a multi-year focus. In addition to thinking about 2014, you will want to consider the impact on 2015 as well. Most filers will save by accelerating write-offs into 2014 and deferring income, since tax rates are not changing. (However, remember that the opposite is true if you will likely be in a higher bracket next year.) Some strategies for accelerating write-offs include... (Read more.) 
Business Trends
Why Should My Business Care About the Internet of Technology (IoT)?
by Paula McMillan, CPA, Director of Marketing and Practice Development
  
Our world is becoming "smarter" and more connected at a faster pace than ever today through advances made possible by technology. This trend is only expected to increase as we continue to see technological advances in products all around us. These advances will offer exponentially expanding functionality, much greater reliability, more opportunities for product utilization and transformative capabilities that transcend product boundaries as we know them today. 

So just what is the Internet of Things (IoT)?
The IoT is the network of physical objects accessed through the Internet. These objects contain embedded technology that interact with internal states or the external environment. Basically, when objects can sense and communicate, it changes how and where decisions are made, and who makes them.

What could this mean to my business?
By 2020, it is estimated that the IoT will connect 28 billion "things" to the internet, ranging from wearable devices such a smartphones, to automobiles, appliances and industrial equipment. (Read more.)
IRS Tax Calendar
Tax Calendar for Businesses & Self Employed - December 2014  
  • Mo 1 Deposit payroll tax for payments on Nov 22-25 if the semiweekly deposit rule applies.
  • Mo 1 File Form 730 and pay tax on wagers accepted during October.
  • Mo 1 File Form 2290 and pay the tax for vehicles first used during October.
  • We 3 Deposit payroll tax for payments on Nov 26-28 if the semiweekly deposit rule applies.
  • Fr 5 Deposit payroll tax for payments on Nov 29-Dec 2 if the semiweekly deposit rule applies.
  • We 10 Deposit payroll tax for payments on Dec 3-5 if the semiweekly deposit rule applies.
  • We 10 Employers: Employees are required to report to you tips of $20 or more earned during November.
  • Fr 12 Deposit payroll tax for payments on Dec 6-9 if the semiweekly deposit rule applies.
  • Mo 15 Corporations: Deposit the fourth installment of your 2014 estimated tax.
  • Mo 15 Deposit payroll tax for Nov if the monthly deposit rule applies.
  • We 17 Deposit payroll tax for payments on Dec 10-12 if the semiweekly deposit rule applies.
  • Fr 19 Deposit payroll tax for payments on Dec 13-16 if the semiweekly deposit rule applies.
  • We 24 Deposit payroll tax for payments on Dec 17-19 if the semiweekly deposit rule applies.
  • Mo 29 Deposit payroll tax for payments on Dec 20-23 if the semiweekly deposit rule applies.
  • We 31 File Form 730 and pay tax on wagers accepted during November.
  • We 31 File Form 2290 and pay the tax for vehicles first used during November.
  • We 31 Deposit payroll tax for payments on Dec 24-26 if the semiweekly deposit rule applies.

Bernard Robinson & Company | (336) 294-4494 | pmcmillan@brccpa.com |
1501 Highwoods Blvd, Ste 300
Greensboro, NC 27410

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